Calculating the Benefits of Keeping Customers

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Calculating the Benefits of Keeping Customers

Hello all, I have a question which repeatedly pops up: where to invest your money: in keeping customers or in new buying customers.
Measuring buying customer is easy. But how do we measure the benefit of customer retention (not just the save desk)? How to measure the lesser churn because of an activity on (part of) the customer base?
My feeling is that because keeping is difficult to measure (how can you proof that x customers stayed with your company rather than leaving as a result of your action) that most of funds typically, depending on markets, is spend on new sales.
Any help please?

  Ahmed N. Qeshta
 

Customers Keeping or Buying

I invest my money in keeping my customers because the cost of buying customer are 25 times higher than keeping a customer.

  Larry S King
 

My Customers Do Not Need Me

It has been my experience that companies and/or company executives oft times forget who made them successful in their respective businesses.
Customer loyalty goes hand in hand with customer service. Sad to say this important aspect of business is rapidly disappearing in the US, not just in large companies but also in the mom and pop businesses as well.
I learned a long, long time ago that my customers do not need me exactly... I need them and I go out of my way to treat customers with the respect and care that they deserve.

  Ethan Durda
Consultant, United States
 

Not All Customers are Worth Keeping

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  Andy Mellor
 

Measuring the Benefit of Customer Retention

I work in a small co. Providing technical industri (...)

  Prashant Choudhari
United Arab Emirates
 

Calculating the Benefits: Lifetime Value

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  Niraj Kumbhat
 

Difficult to Measure the Benefits of Loyalty

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  Jaap de Jonge
Editor, Netherlands
 

Customer Lifetime Value / Lifetime Value

I think Prashant is pointing in a valuable directi (...)

  Mrinal Ghosh
Business Consultant, India
 

Calculating Loyalty

Loyalty can be calculated based on 3 metrics: - I (...)

  Marcel Wiedenbrugge
Consultant, Netherlands
 

Calculating CLV: Recommended Reading

To Heins: finding a right balance is always the tr (...)

  Joseph Sghendo
Director, Malta
 

Loyalty Cards May Help

Such measurements are never easy because they are (...)

  Magesh Kumar
Student (MBA), India
 

Losing an Customer is Losing Double

To editor, I don't exactly know how to calculate C (...)

  S Guin
Presales, India
 

Calculating Customer Loyalty

I completely agree with mr. Ghosh on this, assumin (...)

  Sindiso Coleman Dumulomo Tshuma
Manager, Zimbabwe
 

Customer Loyalty helps to Survive Hars Times

Customer loyalty is very important to the well bei (...)

  Joseph Sghendo
Director, Malta
 

Customer Loyalty

One must not forget to mention the importance of i (...)

  Nagaraj.B.R
 

Customer Value or Loyalty

The contents are good and very responsive. But the (...)

  Marcel Wiedenbrugge
Consultant, Netherlands
 

Customer Loyalty Measurement

To Nagaraj: I think that the answer to this questi (...)

  MD Hafeez Ahmed
Consultant, India
 

Customer Retention is Most Important to Make New Customer

I am working on a special project of customer rete (...)

  Tleli Makhetha
 

Definition of Customer Loyalty

Marcel is correct, the answer is a little more inv (...)

  Rajesh Sharma
Professor, Nepal
 

Customer is Always Loyal

It like believing the enemy. I.e. the customer wil (...)

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